March 13th, 2012 (ACFX.COM)
by, 03-13-2012 at 10:26 AM (157 Views)
Currencies EUR/USD The dollar's strength saw the euro hitting a one-month low on Monday. The common currency is still smarting from fears that the European debt crisis could worsen again, despite Greece's success in debt-cutting swap deal.
The euro stood at $1.3157, having recovered after hitting a one-month low of $1.3079 on Monday, helped by technical support at its Ichimoku cloud top at $1.3087 and a 55-day moving average around $1.3084. But the currency's outlook remained shaky given that the euro zone economy is slipping into recession, in contrast to a brightening picture in the United States.
USD/CAD Canada’s dollar weakened versus its U.S. counterpart on concern the global recovery is slowing after China reported its biggest trade deficit in more than two decades, sapping demand for higher-risk assets.
Canada’s currency dropped 0.2 percent to 99.24 cents per U.S. dollar at 5 p.m. in Toronto. It rose as high as 98.73 last week, the most since March 1.
Commodities Oil rebounded from the lowest price in almost a week as investors bet that fuel demand may increase amid signs the U.S. and Chinese economies are strengthening.
Oil for April delivery rose as much as 66 cents to $107 a barrel in electronic trading on the New York Mercantile Exchange. It was at $106.95 at 12:25 p.m. Singapore time.
Gold climbed, gaining alongside equities and commodities, before a Federal Open Market Committee meeting and as Greece prepares to receive a second bailout.
Spot gold gained as much as 0.3 percent to $1,706.05 an ounce and traded at $1,704.20 at 1:33 p.m. Singapore time.